warhammer wise, it’s a “low magic” fantasy world (at least the rpg game), meaning that even if there are always strong type of magic at work (winds, spirits, etc) few (in the order/human world) can access to those, and usually it’s extremely dangerous (because it’s extremely powerful). So, back to the magic items, I would not add more, but there are plenty of other things that can be visually added, like armors made of mithril/adamant, time limited torches, bulls (a type of public decree, letters patent, or charter issued by xxx), bands, whatever, just not glowing. About the glowing thing, I think having weapons is more than enough.
But this is just my opinion. (forgot to write that, still, I think it’s a good idea, if for fs is too much work, even an icon next to the player name would be enough)